Walker Innovation Inc (PPRO) saw its loss narrow to $1.14 million, or $0.05 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.66 million, or $0.13 a share.
Revenue during the quarter surged 498.36 percent to $0.73 million from $0.12 million in the previous year period.
Operating loss for the quarter was $1.29 million, compared with an operating loss of $2.66 million in the previous year period.
“We remain focused on managing our cash position as we continue to pursue our patent litigation and custom innovation businesses,” said Jon Ellenthal, chief executive officer. “We have one ongoing patent licensing and enforcement campaign involving a specific family of patents that we believe has licensing value in a number of industries.”
Working capital drops significantly
Walker Innovation Inc has witnessed a decline in the working capital over the last year. It stood at $1.47 million as at Sep. 30, 2016, down 71.29 percent or $3.66 million from $5.13 million on Sep. 30, 2015. Current ratio was at 1.69 as on Sep. 30, 2016, down from 2.92 on Sep. 30, 2015.
Days sales outstanding went down to 1 days for the quarter compared with 21 days for the same period last year.
At the same time, days payable outstanding went down to 186 days for the quarter from 286 for the same period last year.
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